Hello, I was wondering if anyone could share tips on buying property/ investing in Puerto Rico after the flood, what to look out for/watch out for, where to buy, share networking info or anything relevant to investing? It would be greatly appreciated. I am looking to buy small home or duplex for renting out. Thanks in advance
I also am interested in this topic so hopefully someone with some knowledge jumps in. Thanks for bringing it up @Meleneal Cameron
Have you been to Puerto Rico in the last 5-10 years? I’ve been down for business quite a few times & the economic situation seems worse every time.
Brain drain is a huge issue there as many young folks take off for the continental US. Philadelphia & other east coast cities have huge Puerto Rican populations as a result.
The pharma companies & other big employers have mostly pulled out after tax advantages expired.
The local govt has a history of corruption & overspending.
Last time I was down the Hilton Coronado had shut down its casino.
Very few upsides in my opinion.
Thanks for the info Dennis I appreciate it. Last time I was there was back in 2016. I have a friend who is a Real Estate Broker and Investor down there - of course, he's saying now is the perfect time to purchase. I'm interested in the Luquillo area. Just recently read an article where Puerto was listed #3 out of 30 Top home buying destinations in America. Just trying to gather unbiased feedback.
@Dennis W. I have been increasingly interested over the last few years because of the highly favorable tax situation. I believe that it may be the perfect place to move in retirement provided that tax rates stay the same however the economy is troubling which tends to discourage me from jumping.
Anyone else have thoughts on this topic?
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing